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Derivatives strategy on Manappuram Finance by HDFC Securities

The RSI Oscillator is showing strength in the stock

Nandish Shah  |  Mumbai 

Markets, Buy, Sell, Stocks, Shares

Buy April Futures at Rs 103.5

Stop Loss: Rs 98 | Target: Rs 115 | Lot Size: 6000


-- We have seen long roll-over in the Futures’ yesterday, where we saw 74 per cent roll over to the April series with rollover cost rising to nearly 2 per cent.

-- The stock price closed above its 5-day Simple moving average (SMA) on Wednesday, the first time in the month of March, with higher volumes.

-- The stock price formed multiple bottoms around 79 odd levels

-- RSI Oscillator is showing strength in the stock

Disclaimer: Nandish Shah is a Technical & Derivative Analyst at HDFC securities. Views are personal.

First Published: Fri, March 27 2020. 07:48 IST